Explore the recent Ethereum price drop and its potential continuation. Learn about key resistance and support levels in technical analysis.
Ethereum has shown a 30% decline in the past two weeks, marking one of the weakest performances among digital currencies. The digital currency market has lost over $500 billion in the last 24 hours, reaching $3.11 trillion. The most severe drop occurred on the morning of February 3, where the price of Ethereum dropped by 16% in an hour, hitting $2,368. Following that, it has rebounded slightly to below $2,600. Analysts attribute the main reasons for the drop to new trade policies by Trump, extensive whale selling, and reduced trading volume. According to technical analysis, important resistance levels are at $2,650, $2,770, and $2,900, while key support levels are seen at $2,320, $2,250, and $2,120.
